Tron plans to set up first office in India, Justin Sun reveals how company survived China’s ICO ban

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July 31, 2018 by
Tron plans to set up first office in India, Justin Sun reveals how company survived China’s ICO ban

Tron has observed a series of new developments in the past few weeks. In fact, on July 30, Tron released Tron Virtual Equipment and also introduced a brand-new job known as Task Atlas with BitTorrent. Currently, the blockchain owner Justin Sun’s next relocation is to establish an office in India, South China Early morning Article reported.

Sun just lately relocated to his brand-new office in Beijing and also currently started making strategies of expansion. Currently, crypto enthusiasts in India are waiting for Supreme Court of India’s last judgment on the fate of cryptocurrency exchanges in the nation.

See also: Tron is 80 times faster than Ethereum, Justin Sun claims

It is to be noted that Reserve Bank of India (RBI) in April cracked the whip on cryptocurrency exchanges. They said that the financial institutions will certainly not be allowed to work with exchanges, providing the financial institutions 3 months’ time to exit the marketplace. The panel of judges who are supervising the instance wants arguments from both RBI and the restriction’s movie critics to be submitted by that day after which the verdict will be made.

Justin Sunlight on how Tron endured China’s ICO ban
9 months back, China first coin offerings (ICO) fundraising as well as gotten to shut down neighborhood cryptocurrency exchanges. Luckily, prior to the ICO ban entered into result, Tron finished its ICO and also raised US$ 70 million.

See also: TRON’s [TRX] Justin Sun stops short of revealing ‘secret project’

The funds collected from the Chinese capitalists were returned after the restriction was introduced. “It’s [the clampdown] taken the heat off [the market] It’s currently extra practical,” Sunlight told South China Early morning Post, “It’s far better for the industry. The majority of firms adhered to the ruling from the government. It really did not trigger anything poor, if there had actually been an economic danger after that it [the ban] would have solved it.”

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